NBCUniversal today announced the acquisition of DreamWorks Animation. The studio will become part of the Universal Filmed Entertainment Group, which includes Universal Pictures, Fandango, and NBCUniversal Brand Development. Under the terms of the agreement, DreamWorks Animation has an equity value of approximately $3.8 billion. DreamWorks Animation stockholders will receive $41 in cash for each share of DreamWorks Animation common stock.

The acquisition includes popular DreamWorks Animation film franchises, such as Shrek, Madagascar, Kung Fu Panda and How to Train Your Dragon. It also includes hundreds of hours of original animated content distributed across linear and SVOD platforms in more than 130 countries. Additionally, DreamWorks Classics, a large library of classic characters, including Where’s Waldo, and Rudolph the Red-Nosed Reindeer, will become part of the NBCUniversal portfolio.

DreamWorks Animation’s Trollhunters will unleash a new, fantastical world wrapped around the residents of the fictional suburb of Arcadia who make a startling discovery that the world beneath their hometown is as vast and mind-blowing as anything on the surface. Coming exclusively to Netflix in 2016.

Tip and Oh are back in DreamWorks Animation’s Home: Adventures with Tip & Oh, an all-new Netflix Original Series.

Picking up where the animated film left off and building upon their friendship, this coming-of-age buddy comedy follows Tip and Oh as they navigate the combined human and alien culture they live in, finding adventure everywhere they go. The series will also include original music by singer Rachel Crow who also voices Tip.

The first season will be available exclusively to Netflix members in the U.S., Canada, Latin America, UK, Australia, New Zealand, Ireland, the Nordics, Benelux and France beginning July 29.